Oil prices dip on Russia-Ukraine peace talks, US inventory data
(Reuters) -Oil fell on Wednesday in another volatile session as traders reacted to hoped-for progress in Russia-Ukraine peace talks and a surprising increase in U.S. inventories.
Around noon in New York, global benchmark Brent was slightly lower and U.S. crude was slightly higher.
The oil market has been on a roller-coaster for more than two weeks, trading in wide ranges of several dollars a day.
On Wednesday, global benchmark Brent crude had swung between $97.55 and $103.70 and was down $1.41 to $98.50 a barrel as of 1:21 p.m. EST (1721 GMT). U.S. West Texas Intermediate (WTI) crude lost 54 cents to $95.87 a barrel.
